GMA News
Fuel price rollback up to P2 per liter expected next week
Motorists can anticipate a rollback in fuel pump prices starting July 1, with expected decreases of P1.30 to P1.70 per liter for gasoline and P1.70 to P2.10 per liter for diesel.
This projected price reduction is attributed to lower oil costs in the world market following the declared ceasefire between Israel and Iran.
The Department of Energy confirmed these estimates based on monitoring trading days on the Mean of Platts Singapore (MOPS).
MOPS serves as the benchmark for pricing refined petroleum products in Southeast Asia.
These price cuts follow recent consecutive hikes, which saw diesel prices increase by P5.20 per liter and gasoline by P3.50 per liter.
🤖
This story was generated by AI to help you understand the key points. For more detailed coverage, please see the news articles from trusted media outlets below.
News Sources
See how different news organizations are covering this story. Below are the original articles from various Philippine news sources that contributed to this summary.
Oil prices are set to decrease starting July 1, following two consecutive weeks of significant price increases.
Read more →
Filipino motorists are set for a second consecutive week of fuel price rollbacks, with Jetti Petroleum projecting potential price drops of P0.20 to P0.40 per liter for diesel and P0.80 to P1.00 per liter for gasoline.
Read more →
Local oil companies have agreed to implement fuel price increases in two tranches this week to lessen the burden on consumers, following discussions with the Department of Energy (DOE).
+4
Read more →
A ceasefire agreement between Israel and Iran, facilitated by US President Donald Trump, has brought cautious optimism for global oil markets and potential relief for fuel prices in the Philippines.
Read more →
The Philippine Stock Exchange index (PSEi) extended its winning streak for a second straight session, rising by 32.89 points or 0.52 percent to close at 6,325.64 on Tuesday, its highest finish in nearly three and a half months.
Read more →